Trump tariffs live updates: Asian markets plummet further with Hong Kong stocks down almost 10%

President Donald Trump is not deliberately trying to crash the stock market, Kevin Haset, director of the National Economic Council of the White House, has said.

Speaking in this week of ABC on Sunday, Mr. Haset said that the stock market accident was “not a strategy” after Mr. Trump’s tariff announcement.

Mr. Trump interrogated him after sharing a video on social media platform Truth social, claiming that the President was dropping the markets as part of a major economic plan.

Mr. Haset insisted: “He is not trying to tank the market. He is trying to distribute to American workers. It is not a strategy for the markets to crash”.

Today, soon after the market opened, Tokyo’s Nikkei 225 index lost about 8 percent.

By noon, it was 7.2 percent at 31,337.76.

A circuit breaker briefly suspended the trading of Topics (Tokyo Stock Price Index) futures following a sharp decline in US futures. A circuit breaker is a security system used to prevent business when the stock market experiences ups and downs.

The biggest loser Mizuho was a financial group, whose shares were 11.4 percent. The stock of Mitsubishi UFJ Financial Group lost 10.7 percent as investors were nervous on how the trade war could affect the global economy.

The tariff measures of US President Donald Trump can slow down the economic growth of the Euro sector anywhere between 0.5 and 1 percentage points, said Governor Yanis Sturanaras, Governor of the Greek Central Bank.

Mr. Sturanaras’s comments come against the backdrop of the European Union countries, which weigh the approval of the first set of the first set of targeted counterants to $ 28BN of US imports, covering products ranging from dental floss to diamonds in the coming days.

The 27-Nation block faces steel and aluminum and 25 percent import tariffs on cars and from Wednesday, there are “mutual” tariffs of 20 percent from Wednesday for almost all other items. financial TimesMr. Stornaras warned that the global trade war risk promoting a large “negative demand shock” in Eurozone was increased, which could have been overshadowed by Europe’s economic growth.

He said, “A notable adverse effect on development can be much weaker than activity, pulling inflation below our goals,” he said.

A spokesperson of Downing Street said: “The Prime Minister spoke to Canadian Prime Minister Mark Carney this evening.

“He discussed his commitment to work together to maintain global economic stability in view of the announcement from the United States this week.

“An all-out trade war is in the interest of no-one, he agreed.

“Both agreed to the importance of independent and open trade between the countries with equal ideologies, and the Prime Minister said that comprehensive and progressive agreements such as trading blocks would be important in this new global era for trans-casual partnership.

“Prime Minister Carney thanked the Prime Minister for his leadership on Ukraine and confirmed his commitment to Canada that he was playing a role in the alliance of the alliance.

“Looking forward, the Prime Minister said that he was eager to visit Canada for the G7 summit in June. He agreed to stay in close contact.”

A Government of India official said that India is not planning to retaliate against US President Donald Trump’s 26 percent tariff, which is cited by the ongoing conversation for a deal between countries.

The official told Reuters that Prime Minister Narendra Modi’s administration has focused on a section of Trump’s tariff order, providing a possible recurrence for trading partners, which “takes important steps to remove non-non-obtained trading systems”, the officer told the Reuters.

New Delhi seems to be an advantage in being one of the first nations to begin a conversation with Washington, and is better than Asian peers like China, Vietnam and Indonesia, which have been hit by high American tariffs.

Taiwan’s President Lai Ching-Te said this morning that the island does not try to put anti-anti-counter tariffs against America.

“Instead, we will start talking to bilateral ‘zero tariffs’,” said on X. “To ensure Taiwan’s competition, we will increase American imports and adopt other measures. While working together, we will enter a golden age of shared prosperity.”

US President Donald Trump implemented 32 percent import duty on Taiwan last week last week, causing a big sale in the markets this morning-Taiwan was observing a public holiday on Thursday and Friday, so the trade was stopped.

LSEG data showed that Taiwan’s benchmark index has now come to its lowest level in more than a year and its largest one was ready for a daytime decline of one day.

China, the European Union and Canada have stated that they plan to retaliate with their own tariffs on American products. Beijing, which claims sovereignty on Taiwan, has already announced its own 34 percent mutual tariff on American goods.

This morning, while opening the trade, India’s Nifty 50 and Sensx Index crashed till 9 months’ climb.

IT companies, which earn an important part of their revenue from the US, collectively lost about 7 percent.

The broad small-cap and mid-capcies lost 6.2 percent and 4.6 percent respectively.

Top Economic Advisors, top economic advisors of US President Donald Trump, have demanded to portray Tariff as a wise repair of the US in the global trade order.

Treasury Secretary Scott Besant said that more than 50 countries started talks with the US as Mr. Trump had tariffs on dozens of countries last Wednesday.

Commerce Secretary Howard Lutnik said on CBS News that the tariff would remain in place “for days and weeks”.